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Fly News Breaks for February 21, 2020
TRUE
Feb 21, 2020 | 09:03 EDT
Craig-Hallum analyst Steve Dyer maintained a Hold rating on TrueCar (TRUE) and lowered his price target on shares to $4 from $5, citing the end of the 13-year affinity partnership with USAA in September, which he sees "adding even more uncertainty to a business in transition." The analyst said he would remain on the sidelines despite solid earnings results, an improved customer experience, and 19% year-over-year traffic growth, as those aspects were overshadowed by the upcoming loss of its largest affinity partner, USAA, which represented 29% of units in 2019 and creates a significant headwind beginning in Q4 of 2020.
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